USD 89.02
EUR 94.77
RUB 0.95

Talant Mamytov, Minister of Finance discuss implementation of 2020 budget

Acting President, Speaker of the Parliament of Kyrgyzstan Talant Mamytov received the Minister of Finance of the country Kiyalbek Mukashev. Press service of the Parliament reported.

Issues of ensuring macroeconomic stability in the country, financing of priority development programs and implementation of the republican budget for 2020 were discussed. In addition, the main directions of budgetary policy for the medium term, forthcoming reforms in the public finance management system and issues of effective public debt management were discussed.

Kiyalbek Mukashev presented information on the work to ensure financing of top-priority expenditure obligations, including social payments, measures aimed at combating the coronavirus pandemic, on the import of electricity and procurement of coal in the autumn-winter period.

Talant Mamytov stressed that protected budget items and social payments should be financed in a timely manner and in full, there should be no delays in the payment of pensions, benefits and salaries to state employees. He also noted the importance of intensifying negotiation processes with creditor countries on restructuring and extension of payments on external debt.

Acting President stressed the need to revise the strategy of foreign debt management, taking into account the situation in the global economy and in connection with peak external debt payments.

Touching upon reforms in the field of public finance management, Talant Mamytov noted that the ministry needs to increase the transparency and openness of the budget process — every som spent from the state budget should be focused on obtaining the final result.

«We need to move from the principle of estimated financing to financing based on results. Everything should be focused on achieving target indicators within the framework of state programs and projects,» the acting head of state said.

In addition, Talant Mamytov paid special attention to the issue of providing the public with open and complete information on the use of external assistance received in the fight against the coronavirus pandemic.